Boutique Media & consulting group


Grayscale Divulges The Reason Behind Surge In Bitcoin Purchase By Institutional Investors

Grayscale, the crypto custodian and broker, has been witnessing swelling interest from institutional investors for its digital asset trusts. A large number of conventional hedge funds are hopping on board as the institutions are warming to BTC and crypto as a likely hedge for uncontrolled monetary stimulus.

The firm’s total assets under management have climbed to around four billion USD. The figure presents an approximately fifty percent growth over the year. Majority of the aforementioned purchase comes from institutional investors looking for exposure through 401k and pension plans.

Various hedge funds and other financial institutions have contributed around two billion USD into Grayscale Investment’s Bitcoin and virtual asset funds, as per an interview with the director of investor relations Grayscale, Ray Sharif-Askary.

Sharif-Askary appeared on the Coinscrum markets podcast to deliberate Grayscales’ mounting volumes. As per Nisa Amolis, the host of the podcast, Grayscale has approximately four billion USD in assets under management as of June. The number indicates a noteworthy surge from approximately two billion USD in AUM in March of 2020.

Furthermore, the average weekly investment across Grayscale’s digital asset trusts has amplified over eight hundred percent over the year. It has increased from around three million per week last year to approximately thirty million USD per week in 2020.

Leave a reply

Leave a Reply

Film News